Viacom Names Robert Bakish As President And CEO Of Viacom International Media

Media giant Viacom, Inc. (VIA, VIAB) announced Wednesday that it has appointed President of MTV Networks International Robert Bakish to the newly created position of president and CEO of Viacom International Media Networks. Bakish will report directly to Viacom President and CEO Philippe Dauman.

"The development of our international business is a major priority and Bob is the ideal choice to lead the global charge for Viacom's media networks. Over his 14 years at the company, he has proven himself to be an outstanding strategist and a highly capable operational manager," Dauman said in a statement.

Bakish will also continue to serve as Chairman of Viacom 18, and as a member of the boards of Viacom's joint ventures with BSkyB and Telecom Italia Media.

The New York-based owner of the Paramount Pictures movie studio and cable networks like MTV and Nickelodeon said that Bakish will now oversee Viacom's Media Networks properties that operate outside the U.S., including MTV Networks International, as well as BET Networks' international channels and non-premium Paramount branded networks.

Additionally, Bakish will continue to work closely with MTV Networks Chairman and CEO Judy McGrath, with BET Networks Chairman and CEO Debra Lee, and with Paramount Pictures Chairman and CEO Brad Grey.

In his most recent role as President of MTV Networks International, Bakish and his team revitalized the creative output and improved its financial performance. He has served in several leadership roles in Viacom over 14 years with the company since 1997.

Prior to joining Viacom, Bakish was a partner with Booz Allen & Hamilton, Inc. (BAH) in its Media and Entertainment practice. He also serves on the board of directors of Avid Technology Inc. (AVID).

In Wednesday's regular trading session, VIA is currently trading at $48.64, up $0.09 or 0.19% on a volume of 2,442 shares. Viacom's class B shares are currently trading at $42.58, up $0.03 or 0.07% on a volume of 0.57 million shares on the NYSE.